The EUR/USD currency pair has passed below the 1.0870/1.0880 and 1.0840/1.0850 ranges. The first range was passed, as the rate faced the resistance of technical levels and the 1.0900 mark. Afterwards, 1.0840/1.0850 failed due to the release of disappointing European Purchasing Managers Index survey results. In the near term future, the rate is set to face the weekly S2
The price for gold broke above the prior all-time-high level. However, the follow up surge eventually ended near the 2,480.00 mark. The 2,481.00/2,483.85 range was confirmed as resistance. Since these events, the price for gold has established a channel down pattern that has guided the price back below 2,400.00. In the near term future, the price is set to
Last week, the USD/JPY rate reached the 155.50 level, which acted as support. The follow up recovery found resistance at 157.70/157.85. On Monday, the broader decline appeared to have resumed. Meanwhile, it was observed the rate continues to find support and faces resistance at round exchange rate levels. In regards to resistance, the 157.00 level was keeping the pair down
After failing to reach the 1.3050 mark, the GBP/USD overextended its surge at 1.3045, booked a new 2024 high level and started a decline. Eventually, the pair found support in the 1.2900 mark. The recovery of the Pound against the US Dollar is encountering resistance in the combination of the 50 and 200-hour simple moving averages near 1.2935. If these
The EUR/USD has been moving in reaction to US data, comments on Federal Reserve policy and the ECB announcement. In general, the rate has been pushed up and down, but it is still near the 1.0900 level. Support is found in the 1.0870/1.0880 range and resistance has been confirmed to be located at 1.0940/1.0950. On Monday, the rate was located
The price for gold found enough support in the 2,350.00 to start a recovery. Afterwards, the price for Gold gained additional strength from the US CPI. By Monday, July 15, the commodity price was heading to the 2,450.00 level which mark's the all-time-high. A move above the 2,450.00 is expected to be slowed down by round price levels until the
The USD/JPY broke out of the triangle pattern and started a surge that was eventually approaching the 162.00 level. As the pair approached the 162.00 mark, the US CPI release caused a major drop of the US Dollar. On the USD/JPY charts, the event resulted in a decline to the 157.30/157.40 range that has turned into support. Afterwards, an
The last week's breaking of the 1.2800/1.2820 range has been followed up by a surge to the 1.3000 mark. The 1.3000 is acting as resistance and keeping the GBP/USD down. The approaching 50-hour simple moving average might provide the needed support for the rate to move above 1.3000. Above the 1.3000, resistance might be encountered in the weekly R1
The bullish scenario has taken place on the EUR/USD charts, as the pair broke above 1.0850 and confirmed this level as support. By July 15, the rate had reached above 1.0900 level and was testing the resistance of the 1.0920 level. A move higher could be slowed by the combination of the weekly R1 simple pivot point at 1.0945 and
US employment data further weakened the US Dollar. The price for gold reacted to the news by surging and almost reaching the 2,400.00 mark. However, the resistance worked and the rate was descending and consolidating while looking for support. On Monday, the support appeared to be found in the 2,370.00 level and the 50-hour simple moving average. A resumption of
The decline of the USD/JPY appears to have found support in the late June low level zone. Namely, the 160.25/160.30 range acted as support on Monday. However, by mid-day the rate had encountered resistance in a trend line that connects the pair's recent lower high levels. In general, the pair could get squeezed in. A break out to the downside,
Friday's US employment data revealed that the US economy is slowing down, as unemployment increased. This in turn signals that the US Federal Reserve can cut interest rates and weaken the USD. Meanwhile, the UK elections were rather calm. On the GBP/USD charts, it resulted in the pair passing above the 1.2800/1.2820 resistance range, as the Pound has strengthened,
In the aftermath of the US employment release, the EUR/USD still trades between two ranges of support and resistance. Namely, resistance is provided by the 1.0840/1.0850 range and support is found at 1.0790/1.0800. A move above the resistance range of 1.0840/1.0850 could be caused by the approaching hourly simple moving averages that have shown to be capable of pushing the
The price for gold was facing the resistance of the 2,340.00 level and continued to fail at all attempts to reach above it. Meanwhile, the 100-hour simple moving average was acting as support. On the daily candle chart, there was another squeeze going on. However, the technical chart was just representing the fundamentals. The markets were waiting for what
The surge of the US Dollar against the Japanese Yen had encountered resistance at the 162.00 mark and the rate was looking for support to resume the surge. Support appeared to be once again found in the 50-hour simple moving average near 161.50. However, then US fundamental data was published and the pair plummeted. In general, the Chairman of
Fundamentals have moved the financial markets. In general, Jerome Powell stated on Tuesday that the Fed needs more data before cutting interest rates. On Wednesday, various US data sets were released either below expectations or at forecast. This caused the drop. On the GBP/USD charts it has resulted in a surge above the 1.2750 level. An extension of the ongoing
The resistance of the 1.0800 mark was broken this week due to the weakness of the US Dollar. In general, Jerome Powell stated on Tuesday that the Fed needs more data before cutting interest rates. On Wednesday, various US data sets were released either below expectations or at forecast. This caused the drop. An extension of the ongoing gains of
The 2,300.00 mark acted as support and the price for gold has managed to recover. The commodity has encountered some resistance in the 2,330.00 level, before approaching the 2,400.00 level. On Monday, the price was making its second attempt to reach above the 2,340.00 level. Meanwhile, the price ignored the 50, 100 and 200-hour simple moving averages. A move above
In general, the USD/JPY continues to surge higher, as a new high was reached on Monday. Meanwhile, by taking a broader look one can spot a support and a resistance lines that both have impacted the rate throughout June. The ongoing surge is expected to continue between the two trend lines. Resistance could be encountered in the 161.50 level, the
Since June 20th, the GBP/USD has been trading between the support of the 1.2620 level and the resistance of the 1.2700 mark. On Monday, the pair appeared to be heading for another test of the 1.2700 mark. Before testing the resistance of the 1.2700 level, the rate could be slowed down at the 1.2692 level where the weekly R1
Since mid-June, the EUR/USD was trading between the support zone at 1.0665/1.0670 and resistance at 1.0745/1.0760. On the first day of July's trading, the resistance zone was broken. However, it was not followed by a surge, as by mid-day the pair was impacted by the lower than forecast EU Purchasing Managers Indices. In the near term future, the pair
The price for gold has failed to show a broad recovery, as fundamentals beat it down on June 21. By June 26, the price was heading back to the 2,300.00 mark. The ongoing decline might look for support in the 2,300.00 mark. However, a failure of this level to hold is not bound to result in a broad decline. The
On Wednesday, an announcement by the government of Japan that the country's GDP will be reviewed cause a decline of the Japanese Yen. Namely, markets are speculating that the GDP will be reviewed to the downside. As a result, the USD/JPY broke the resistance of the 160.00 mark. An extension of the ongoing surge could be slowed down by the
As the markets wait for the UK elections, the GBP/USD has been drawn to the 1.2700 mark as a magnet. However, most recently, the pair bounced off this level and started a decline. On Wednesday, the rate was expected to reach the 1.2620 level. If the 1.2620 level once again acts as support, the pair could recover and face the